Cairo – Mubasher: The ordinary general meeting (OGM) of Madinet Nasr Housing and Development has modified dividends distribution for 2017.
The OGM has approved the distribution of a 0.203-for-1 basis bonus shares, increasing the firm's capital to EGP 1.2 billion, according to a filing to the Egyptian Exchange (EGX) on Monday.
The property developer had previously proposed the distribution of a 0.15-for-1 basis bonus shares to shareholders for 2017, as well as raising issued capital to EGP 1.15 billion from EGP 997.1 million.
The extraordinary general meeting (EGM) had agreed on raising the company’s issued capital to EGP 1.2 billion from EGP 997.1 million, the EGX-listed company said.
Madinet Nasr Housing’s capital amounts to EGP 997.1 million distributed over 997.1 million at a par value of EGP 1 per share.
